Tag Archives: Qualitative

Sources for Market Research and Competitive Analysis

Locating industry specific market data; e.g., consumer demographics, forecasted sales growth, market leaders, and product segment performance, can take a considerable amount of time and effort.  Richard K. Miller & Associates, a market research firm, makes this task much easier with its annual Market Research Handbooks.  2010 editions of the Handbooks include the Leisure Market Research Handbook, the Restaurant & Foodservice Market Research Handbook, and the Retail Business Market Research Handbook.  A complete listing of titles is accessible through the Articles & Databases link on the library website under RKMA Market Research Reports.  A new Consumer Marketing Handbook (2010) provides data on the scope and effectiveness of different kinds of advertising and customer outreach programs, including mobile apps, online marketing, multichannel marketing, and more.  When accessing the RKMA publications off-campus, you will be prompted to type in your name and 14-digit barcode number located on your Bryant student ID.

Another critical piece to analyzing a specific industry is locating data on competitors.  Though market share data is available in the Market Share Reporter (2011, print) and the Business Rankings AnnualMergent Online and the Mergent Industry Review (2011, quarterly, print) are the best sources for timely comparative financial data. Mergent Online database provides financial data on over 60,000 global publicly traded companies. Researchers can search for a company by name or by ticker, and the retrieved information will include a link to Competitors which includes Mergent’s universe of preselected competitors and data on their revenues, gross margin, net income, EBITDA, total assets and liabilities, P/E ratio, market cap, total employees, and share price.  The Mergent Industry Review, arranged by industry sector, provides data on EPS (12 months and last 3 years) and latest data on book value per share, stockholders equity, and long-term debt.  Additional company data rankings are given with categories selected depending on their relevance to the industry sector.  The publication also presents one, three and five year growth rate rankings for revenue, EPS, operating income, share price and number of employees.

For help using these resources or locating more information and data a particular market or industry, ask a librarian!

Original Source: Krupplibrary

 

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AIMS OF MARKETING DEPARTMENT

Marketing involves a range of processes concerned with finding out what consumers want, and then providing it for them. This involves four key elements, which are referred to as the 4P’s (the marketing mix). A useful starting point therefore is to carry out market research to find out about customer requirements in relation to the 4Ps.

Market research

There are two main types of market researchQuantitative research involves collecting a lot of information by using techniques such as questionnaires and other forms of survey. Qualitative research involves working with smaller samples of consumers, often asking them to discuss products and services while researchers take notes about what they have to say. The marketing department will usually combine both forms of research.

The marketing department will seek to make sure that the company has a marketing focus in everything that it does. It will work very closely with production to make sure that new and existing product development is tied in closely with the needs and expectations of customers.

Modern market focused organisations will seek to find out what their customers want. For example, financial service organisations will want to find out about what sort of accounts customers want to open and the standard of service they expect to get. Retailers like Argos and Homebase will seek to find out about customer preferences for store layouts and the range of goods on offer. Airlines will find out about the levels of comfort that customers desire and the special treatment that they prefer to receive.

A useful definition of marketing is the anticipation and identification of customer needs and requirements so as to be able to meet them, make a profit or achieve other key organisational objectives.

Source: Thetimes100.uk

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